Yen Drops on Rate Cut Talk; Oil Climbs
The U.S. dollar rose to a three week high against the yen on Friday, on a report of likely further monetary policy easing from the Bank of Japan, while a rise in crude oil prices was offset by poor technology sector earnings, leaving Wall Street stocks steady. The dollar rose more than 2.0 percent against the yen to 111.80 yen, its highest level since April 1 after a media report said the BOJ is considering expanding its negative rate policy to bank loans and could cut rates further.
Beckmeyer Visits Rolls-Royce's MTU Research
Uwe Beckmeyer, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy paid a visit to MTU Reman Technologies in Magdeburg to find out more about the company’s development operations in the maritime sector. The important role the Rolls-Royce subsidiary plays in shipping is in fact a two-fold one. Beckmeyer, who also acts as Federal Government Coordinator for the maritime industry said…
Australia-Japan bilateral exercise Ends
Ships and aircraft from the Royal Australian Navy and Japanese Maritime Self Defence Force (JMSDF) have completed the bilateral Exercise NICHI GOU TRIDENT off the coast of New South Wales. HMA Ships Ballarat, Adelaide and Success along with JMSDF destroyers JS Umigiri, JS Asayuki and submarine, JS Hakuryu, conducted a range of activities including anti-submarine warfare, ship handling and aviation operations as well as activities with Royal Australian Air Force AP-3C Orion and Hawk 127 aircraft.
Konecranes' Goliath crane for Meyer Turku Shipyard
Konecranes will deliver a new 1,200 ton Goliath gantry crane to Meyer Turku Oy. The design, precision drive components, electrical installation and automation system and structural components will be supplied by Konecranes, while Meyer Turku will manufacture the main girder in its own hull production. The new crane will be taken into use in May 2018. The order also includes a modernization of the Turku shipyard’s current 600 ton crane, service and maintenance parts.
Krishnapatnam Port Inaugurates Maersk Salalah Service
Krishnapatnam Port inaugurated yesterday the maiden call of “M V Maersk Bentonville” as part of the direct weekly service from Krishpatnam to Salalah (Oman). The first voyage of Maersk Bentonville discharged 551 TEU’s and loaded 770 TEU’s of exports. The weekly service is expected to provide fastest and most competitive service to the exporters and importers of Andhra Pradesh, Telangana, Karnataka and Northern Tamil Nadu to the ports of US East Coast, Mediterranean, Europe and Africa.
HCI Capital Acquires Ernst Russ GmbH
HCI Capital AG acquires the long-established Hamburg shipping company Ernst Russ GmbH & Co. KG. The HCI Group, which early in 2016 already the majority of the shares of König & Cie. Group had taken, thus expanding again the controlled fleet and strengthen its maritime services division. This HCI consistently pursued the strategic positioning as an asset and investment manager with a maritime focus. The Ernst Russ GmbH & Co.